All Corporations articles – Page 78
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News briefs
Hobie Cat has been sold to executives from Maynards Industries
Hobie Cat Co., the U.S. company operating in the surf, paddlesports and stand-up paddle markets, has reportedly been sold to a private equity group consisting of executives from Maynards Industries, an industrial auction house. According to a report in SGB Executive, Hobie Cat “was discretely sold” to a team of ...
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ArticleAdidas unveils its business plan through 2025, expanding DTC
After releasing its results for 2020, Adidas introduced a new strategy at a virtual Investor & Media Day, dubbed ”Own the Game,” which it says aims to raise sales, market shares and profits by strengthening the “credibility” of the Adidas brand, by boosting the direct-to-consumer channel and creating a unique ...
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News briefs
Callaway closes Topgolf’s acquisition
The merger of Callaway Golf Co. and Topgolf International has been completed, following approval of the deal by a majority of the shareholders of both companies. Topgolf’s assets include a number of golf driving ranges, a ball tracing system and other golf-related entertainment tools and media. As originally agreed last ...
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Article
GoPro sees major upsides with subscriptions
GoPro told a conference organized by JMP Securities that it expects its revenues to improve by 20 to 25 percent this year, even if there is no broad economic recovery and no increase in travel, thanks in part to the development of its direct-to-consumer operations. As previously reported, GoPro suffered ...
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News briefs
El Corte Inglés discusses layoffs
El Corte Inglés has told the unions that it is considering between 3,000 and 3,500 voluntary layoffs as part of a reorganization of the company, which run Spain’s largest chain of department stores and multiple other operations, including shopping centers. Its department stores sell a lot of sporting goods, among ...
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News briefs
JD Sports in talks to acquire warehouse from Arcadia Group
According to Sky News, JD Sports Fashion is the front-runner in negotiations to acquire Arcadia Group’s warehouse in the English town of Daventry for around £60 to £90 million (€69m-$83m to €104m-$125m). Boohoo Group, Amazon and eBay have reportedly also expressed interest. A casualty of the pandemic lockdowns, Arcadia Group ...
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Article
Birkenstock is reportedly valued at €4 billion
We find it interesting that Birkenstock, an authentic and iconic brand of casual shoes made in Germany, with a 247-year heritage, has been taken over by two equity funds, L Catterton and Financière Agache, that are related to Bernard Arnault, the controlling shareholder of LVMH. We are wondering about the ...
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News briefs
Wolverine gets S&P upgrade
Standard & Poor’s has upgraded its outlook for Wolverine Worldwide to stable and confirmed its BB issuer credit, while raising the rating on its senior secured credit facility to BB+. This came after Wolverine repayed a $171 million, 364-day loan contracted because of the coronavirus pandemic and reported better-than-expected results ...
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News briefs
Moncler acquires full control of Stone Island
Moncler has purchased the remaining 30 percent stake of Stone Island, an Italian brand of casualwear, from Temasek for around €345 million. The transaction is expected to close by the end of March, following approval by the regulatory authorities and Moncler’s shareholders. The deal was first announced in December of ...
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Article
Inov-8’s founder takes the business back
Wayne Edy, who founded Inov-8 in 2003, is preparing to launch a new graphene-based shoe after buying back the 80 percent stake in the British company that he had sold to Descente in 2015, with the exception of the rights to the brand for Northern Asia, including Japan, South Korea ...
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News briefs
Wintersteiger signs deal with Head USA
Already working with Head Europe, Wintersteiger has become a supplier to Head USA, opening a showroom at the latter’s headquarters in Boulder, Colorado. According to its president, Jon Ruker, Head was seeking to “replicate” in Boulder the performance of Wintersteiger’s Scout machine at its Austrian race department, which “consistently produces ...
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News briefs
Courir to open new warehouse in 2022
Courir, the international chain of sneaker shops previously owned by Groupe Go Sport, is planning to open a new 18,000-square-meter warehouse in Montierchaume, near Châteauroux in central France. According to a report in sport-guide.com, the facility will be ready in March 2022, and will be operated by ID Logistics. In ...
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News briefs
Adidas plans to resume dividends
Adidas’ executive board has decided a resumption of the company’s dividend payments, subject to approval by the supervisory board and at the annual general meeting of May 12. The says its decision reflects a positive outlook for the current financial year and follows a series of financing measures: it recently ...
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News briefs
Rather Outdoors buys Zebco Brands
Rather Outdoors has announced that it has taken over Zebco Brands, a manufacturer of fishing rods, reels and accessories based in Tulsa, Oklahoma. Through this acquisition, Rather expects to take full advantage of the growing interest in fishing, particularly among young and new anglers, where Zebco is particularly strong. Another ...
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News briefsKuehne+Nagel buys a Chinese freight company
Kuehne+Nagel, the European logistics group registered in Luxembourg, has entered into a binding agreement to acquire a Chinese freight forwarder, Apex International Corporation. No financial details were released. Apex was founded in 2001 and has about 1,600 employees. It generates yearly revenues in excess of €1.9 billion. In 2020, the ...
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News briefs
Foot Locker’s capital spending will grow to $275m in 2021
Foot Locker’s board of directors has authorized capital investments of $275 million for this year, a big jump from the $155 million spent in 2020, when they were reduced to maintain liquidities in spite of the coronavirus pandemic. Foot Locker’ board has also decided to raise its quarterly dividend by ...
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News briefs
Therabody raises capital from celebrities
Therabody, the U.S.-based maker of the Theragun massage therapy gun and other therapeutic training aids, said it has drawn more financing after its revenues tripled in 2020 to an unspecified level, thanks in part to its expansion into more than 60 countries, with offices recently opened in London, Dublin and ...
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News briefs
Kinnevik’s Zalando shares go to its own shareholders
Kinnevik, the Swedish investment fund that has been supporting Zalando since 2010, helping it to go public in 2014, has decided to transfer its 21 percent interest in the big German-based e-tailer to its own shareholders, provided they approve the move at Kinnevik’s annual meeting on April 29. The Swedish ...
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News briefs
Asics invests in soccer scouting platform
Asics Ventures Corp., the investment subsidiary of Asics Corp., has invested in Dreamstock, the operator of a soccer scouting platform that matches football players with clubs. Dreamstock, based in Tokyo, was founded in July 2017. The digital company supports the youth generation (ages 14-18) by providing matching services with professional ...
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ArticleHi-Tec’s parent will change hands, if the price is right
Apex Global Brands, the American brand management and licensing organization previously called Cherokee Global Brands, which owns the Hi-Tec, Magnum and Tony Hawk brands, among others, confirmed that it has entered into a merger agreement with Galaxy Universal, a Colorado-based project management and investment firm.Galaxy is described as a sourcing ...
